Personal Instalment Loan Consolidation Program

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Personal Instalment Loan Consolidation Program

A single loan for your credit card and loan debt

Save yourself some hassle by consolidating debt from your credit cards and loans, and save some money with a personalised interest rate.

Apply now

Key benefits

Meet your financial needs

Take out a loan up to 23 times your monthly salary or HKD3,000,000 (whichever is lower)

Pay less interest

A consolidated loan with repayment period of 12 to 84 months helps to save interest expenses with a personalized interest rate

Apply without proof of income

You don't need proof of income if you've kept a payroll account with HSBC for the past month

How to save by consolidating debt

Here's an example of how you could save money by combining your debt into a single loan amount of HKD200,000 under our Balance Consolidation Program[@loans-repaymentexample].
Items	Credit card bills totalling HKD200,000[@loans-calculatedannualinterestrate]	Under our Balance Consolidation Program[@loans-calculatedmonthlyflatrate]
Average monthly repayment amount	HKD7,881	HKD4,458- HKD5,338 (32-43% less in monthly repayment)
Repayment period	378 months	72 months (81% shorter repayment period)
Total interest expense	HKD331,986	HD120,962 - HKD184,322 (44-64% less in interest expense)

Here's an example of how you could save money by combining your debt into a single loan amount of HKD200,000 under our Balance Consolidation Program[@loans-repaymentexample].
Items	Average monthly repayment amount
Credit card bills totalling HKD200,000[@loans-calculatedannualinterestrate]	HKD7,881
Under our Balance Consolidation Program[@loans-calculatedmonthlyflatrate]	HKD4,458- HKD5,338 (32-43% less in monthly repayment)

Items	Repayment period
Credit card bills totalling HKD200,000[@loans-calculatedannualinterestrate]	378 months
Under our Balance Consolidation Program[@loans-calculatedmonthlyflatrate]	72 months (81% shorter repayment period)

Items	Total interest expense
Credit card bills totalling HKD200,000[@loans-calculatedannualinterestrate]	HKD331,986
Under our Balance Consolidation Program[@loans-calculatedmonthlyflatrate]	HD120,962 - HKD184,322 (44-64% less in interest expense)

dpws-tools-calculator-creator

The monthly repayment amount, Annualised Percentage Rate (APR) and total interest amount shown in the calculator are for indication only and not meant to be final.
The rates for individual customers may vary. Please call our hotline to enquire about your eligible rates including APR and repayment information.
The illustration does not reflect the actual allocation of principal and interest. Please also note that the actual monthly repayment amount may differ, customers should refer to the loan confirmation letter for the actual related information.
The monthly repayment amount and the APR is calculated based on a 12, 18, 24, 30, 36, 42, 48, 54, 60, 66, 72, 78 or 84-month repayment period and loan amount of every HKD10,000. The monthly repayment amount is rounded up to one decimal place.
The APR is calculated using the method specified in relevant guidelines issued by The Hong Kong Association of Banks, and is rounded up or down to the nearest two decimal places. An APR is a reference rate, which includes all applicable interest rates, fees and charges of the product, expressed as an annualised rate.
View Key Fact Statements.
Terms and conditions apply.

What you need to know before you borrow

Which of HSBC's lending solutions is your right match?

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Find a suitable lending product to match with your specific needs by answering a few simple questions

Factors to consider before applying for a personal loan

Know more about how to apply for a bank loan, loan rates, and documents needed for personal loans.

How to calculate APR and why it's important

Look at what APR means, why it’s important, and how it's calculated for loans.

Things you should know

Eligibility

To apply for the HSBC Personal Instalment Loan Balance Consolidation Program, you must:

be a Hong Kong resident
be at least 18 years old
have a monthly income of at least HKD7,500

Annual fee

Not applicable

Handling charge

Subject to promotional offer

Early redemption penalty

2% of outstanding principal amount plus repayment of any applicable promotional offers

Deferred payment

For 1st repayment: 2.25% per month on approved loan amount, calculated on daily basis

Late charge

2.25% per month calculated on daily basis for amounts in arrears, plus HKD400 on each instalment due to insufficient funds

Unauthorised overdraft handling charge

Not applicable

Apply now

Via online form

Fill out an online form and we will follow up with you.

Complete the online form This link will open in a new window

Over the phone

Call us on our 24/7 application hotline to get started.

(852) 2748 8080

Find out more

If you're having difficulty keeping up with your loan repayments—for example, because you lost your job or you have unexpected new financial commitments—please talk to us. We may be able to help make your monthly repayments more manageable, such as by extending your loan term.

We use a monthly flat rate to calculate the monthly repayment amount for your loan. Most banks and financial institutions adopt this method to calculate fixed monthly repayments.

An annualised percentage rate (APR) is an index of borrowing cost, It's calculated based on a 365-day or 366-day calendar year, and includes interest and all related fees or charges, in accordance with the relevant guidelines under the Code of Banking Practice. You can use APR as a way to compare interest rates.

The main reason is that different loans carry different levels of risk for the lender. For example, a loan granted without any security carries a higher risk of the lender losing their money if you can't repay it. And so, it will usually carry a higher interest rate than a secured loan.

Another factor is the amount you borrow. A lender's administrative costs are lower for a single large loan, as compared to several small loans to different borrowers. That's why a large loan may have a lower interest rate than a small loan.

We advise all customers to check the amount that you'll pay over the course of the whole loan.

See all FAQs on loans

Notes

Please note that we do not appoint any third parties to refer Balance Consolidation Program applications to us and will not process any application that was referred by a third party under beneficial arrangement. For enquiry, please call our hotline at (852)2233 3000.
You can withdraw your loan by calling us at (852) 2233 3033 (HSBC Global Private Banking and HSBC Premier Elite customers), (852) 2233 3322 (HSBC Premier customers) or (852) 2233 3000 (other personal banking customers) within 7 calendar days following the day of loan disbursement (cooling-off period). For more details, please refer to the product terms and conditions.
To borrow or not to borrow? Borrow only if you can repay!

HSBC Personal Instalment Loan Balance Consolidation Program

Key Facts Statement

A single loan for your credit card and loan debt

Key benefits

Meet your financial needs

Pay less interest

Apply without proof of income

Enjoy cash rebate up to HKD28,888[@loans-dcpil-trasnfer-in]

How to save by consolidating debt

dpws-tools-calculator-creator

What you need to know before you borrow

Which of HSBC's lending solutions is your right match?

Factors to consider before applying for a personal loan

How to calculate APR and why it's important

Things you should know

Eligibility

Fees and charges

Product information

Apply now

Via online form

Over the phone

Already applied? Upload documents now

Find out more

What if I can't keep up with the repayments?

What is a monthly flat rate?

What is an annualised percentage rate (APR)?

Why do different loans have different interest rates?

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Personal Instalment Loan Redraw

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Notes

Important information